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IKEA Founder Ingvar Kamprad Dead at 91

Updated 01.28.18 7:47AM ET / Published 01.28.18 7:43AM ET

TT News Agency/Anders Wiklund via Reuters

Ingvar Kamprad, the Swedish founder of international furniture giant IKEA, has died at the age of 91. The company confirmed in a statement Sunday that Kamprad passed away at his home in Småland, saying he died “surrounded by loved ones” after a “short illness.” The company said Kamprad, “one of the greatest entrepreneurs of the 20th century, will be “missed and fondly remembered.” Kamprad—whose net worth was estimated at nearly $60 billion at the time of his death—founded IKEA in 1943, when he was only 17 years old. The company grew to be a global empire with more than 300 stores worldwide and a reputation for affordable, simplistic designs.